Revenue is passing you by if you’re not offering multiple financing options for your customers!
Your business has one consumer financing option, but it doesn’t fit all of your customer’s needs. So, who said your business can only offer one financing option? You have more than one type of customer, and that means you need various forms of financing options to fit your diverse consumer base. Here are the 5 ways you can improve business by offering multiple finance options.
- More Approvals
By offering multiple finance options, you will approve more customers, it’s that simple. Credit score is no longer the sole determinant in the approval decision. Lenders are willing to approve customers with all kinds of credit. Your business can benefit from offering more financing options, because your can customize your offers to cater to customers with bad credit and increase approval rates. As your business increases the number of financing options, approvals will also increase.
- Faster Decisions
Financing Your Way partners with lenders who can provide fast decisions. These options can be compared side-by-side so that your consumer can choose the option that best fits their financial needs. No more turning your customer away, because the lender needs 3-5 business days to make their decision. In most cases, decisions are made instantly and you can seamlessly close your sale by letting your consumer choose how they want to handle payments in the future.
- Easy Implementation
Getting set up to offer multiple consumer finance options won’t be difficult. Financing Your Way provides tools to help your business easily implement consumer finance and staff training to help you close the deal. In addition, your company will receive marketing material to attract new customers who never considered your business due to price concerns.
- Higher Average Sales
When your customers learn that they can buy now and pay later, they will buy more. This will increase sales and increase your revenue. Since funds are deposited in full usually within 3-5 days, your business won’t have to wait for your consumer to finish paying the loan. There is no added risk for you if the consumer stops paying on the loan.